Three years ago, retailers and restaurants joined together to create an annual shopping holiday to kick off the new year. The National Use Your Gift Card Day is coming up on Saturday, January 21, reminding consumers to go out and spend their unused gift cards.

Gift card sales this holiday season were strong, with 80% of consumers purchasing more gift cards this year than in years past. While holiday gift card sales increased in 2022, the number of cards sold decreased, and card sales were affected by a holiday winter storm. 

National Use Your Gift Card Day aims to stop the loss of billions of dollars in forgotten gift cards, which amounts to a whopping $15.3 billion, according to Bankrate.com.

It's likely you have at least one gift card stashed in your junk drawer, just like many of your customers. The average value of this forgotten plastic is $116 per person. 

How to motivate your customers to use their gift cards.

1. When you have a brick-and-mortar store, you may be aware of a similarly sized business that provides a complimentary service or product to yours. By partnering with a like-minded company, your gift cards can benefit each business and increase customer loyalty.
2. Gift cards are incentivizing in themselves, but when combined with a discount, they are difficult to ignore. Consignment stores have used gift cards to incentivize sellers to spend their money in-store, as they get more in-store credit than they would in cash.
3. Try adding special discounts with your business' gift cards to encourage customers to visit your physical store. For example, you could offer an extra 15-20% off a purchase if the gift card is used in-store versus online. Social media contests and giveaways can be quickly executed with digital cards.
4. Motivate customers to use their gift cards by adding a different type of offer – donate to a local charity for each gift card redeemed on National Use Your Gift Card Day.

You can use these tips to spread the word about your business in the community. Establishing goodwill by involving local, not-for-profit organizations will show your brand in a positive light, increasing your regulars and new consumers—a win-win. 

If you would like to employ any of these gift card tips, Quikstone Capital Solutions and our partner Card Market can help.

Since 2005, Quikstone Capital Solutions has helped thousands of merchants with easy, fast, and flexible working capital for all their business needs. Quikstone has an A+ rating with the Better Business Bureau, and over 80% of our merchants are repeat customers. Contact us today to speak with one of our representatives.